DANIELLA Luxembourg has launched her own private art dealership, Luxembourg Art, after selling her stake in auction house Phillips, de Pury and Luxembourg to partner Simon de Pury.

She is also launching ArtVest, an art investment company.

Ms Luxembourg and Mr de Pury set up their auction house in 2000, taking over Phillips under the aegis of French billionaire Bernard Arnault, and then continuing with the rump of the company when much of Phillips was sold to Bonhams.